Bloc Ventures, the London-based venture capital firm focused on early-stage European deep technology investments, has raised over £20 million in equity funding from industry leaders throughout the UK.
The latest funding round was led by Michael Spencer’s investment company IPGL and supported by other individuals, including Warren East, Christopher Miller, Gavyn Davies, Stuart Roden, and Stephen Catlin, who serves as a non- executive director on the Bloc board. As part of the round, Samantha Wren, CEO of IPGL, has also joined as a non-executive director. Commenting on the announcement, Bloc chairman Paul Roy said: “We are very pleased to have reached this significant milestone and to welcome further notable new shareholders to Bloc, and Sam Wren to the Board. Sam brings considerable expertise and a full understanding of the perspectives of the professional investor to the table.”
The firm aims to provide expert-led funding of early-stage deep technology startups and has already built a portfolio of nine companies across fields such as quantum-based security, internet-of-things infrastructure, the 5G wireless network, fintech, and gaming.
“Our approach is to invest in companies in the deep technology sector that provide the picks and shovels for the digital world,” explained Bruce Beckloff, co-founder and CEO. “With Bloc’s hands-on approach and complementary mix of experience and expertise, we are uniquely placed to identify and invest in the next generation of technology companies, whilst de-risking the journey for our shareholders by actively helping our companies optimise and scale.” The recent fundraise will go toward expanding the firm’s portfolio with new partnerships as well as developing existing portfolio companies with follow-on investments.